Downtown Indianapolis, Indianapolis, IN—46201
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Indianapolis, Indianapolis, IN
As of Oct '25, the median home price in Downtown Indianapolis, Indianapolis, IN is $149,000, with a year-over-year change of -3.0%. This indicates that home prices in Downtown Indianapolis, Indianapolis, IN are decreasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $149,000 | -3.0% |
| Single Family | $149,000 | -3.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $107,000 | -1.8% |
2 Bed | $132,000 | -3.6% |
3 Bed | $164,000 | -3.5% |
4 Bed | $199,000 | -3.9% |
| 5 Bed | $216,000 | -4.0% |
% of Housing Stock
Rental Trends — Downtown Indianapolis, Indianapolis, IN
As of July '25, Rentcast reports the average rent in Downtown Indianapolis, Indianapolis, IN is $1,230, with a year-over-year rent change of 0.0%. Per bedroom, the median rent as of July '25 in Downtown Indianapolis, Indianapolis, IN is studios: $795, 1-bedrooms: $846, 2-bedrooms: $1,200, 3-bedrooms: $1,420, 4-bedrooms: $1,810. The most common rental property sizes in Downtown Indianapolis, Indianapolis, IN are 2-bedroom and 1-bedroom, accounting for 36.4% and 29.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,120 | $1,230 |
| Studio Rent | $795 | $795 |
| 1 Bed Rent | $800 | $846 |
| 2 Bed Rent | $1,050 | $1,200 |
| 3 Bed Rent | $1,400 | $1,420 |
| 4 Bed Rent | $1,900 | $1,810 |
% of Rental Stock
Property Listings — Downtown Indianapolis, Indianapolis, IN
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Indianapolis, Indianapolis, IN is 64. This is a increase of 20.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 52.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $213,000 | -3.0% |
Listing Count | 271 | 10.0% |
| Listings as % of Homes | 1.1% | 10.0% |
Days on Market | 64 | 20.0% |
Demographics — Downtown Indianapolis, Indianapolis, IN
As of the latest ACS Survey released in 2023, Downtown Indianapolis, Indianapolis, IN has a population of 31,600, which has increased by 6.2% over the past 5 years. Downtown Indianapolis, Indianapolis, IN is a popular place for families, as children make up 25.1% of the population. The area has a moderately educated workforce, with 25.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,600 | 6.2% |
% Under 18 | 25.1% | 0.4% |
% Seniors | 10.6% | 15.2% |
% WFH | 8.6% | 258.3% |
% w/ College Degree | 25.5% | 51.8% |
As of the latest ACS Survey released in 2023, Downtown Indianapolis, Indianapolis, IN is a predominantly white area, with 53.3% of the population identifying as white. The white population has shrunk by 3.6% in the last 5 years. The second most common race or ethnicity in Downtown Indianapolis, Indianapolis, IN is hispanic, making up 22.5% of the population. Foreign-born residents account for 9.4% of the population in Downtown Indianapolis, Indianapolis, IN, and this percentage has increased by 20.5% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 53.3% | -3.6% |
% Black | 18.2% | -28.1% |
% Hispanic | 22.5% | 53.1% |
% Asian | 0.3% | -40.0% |
% Foreign Born | 9.4% | 20.5% |
Mortgage and Risk — Downtown Indianapolis, Indianapolis, IN
According to HUD data as of 2023, there were 694 mortgage originations in Downtown Indianapolis, Indianapolis, IN, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 47.0% above 90% LTV (very high). This implies large mortgage risk in Downtown Indianapolis, Indianapolis, IN. Investor activity is low, as 8.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 694 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Downtown Indianapolis, Indianapolis, IN
As of 2024, the percent of homes in Downtown Indianapolis, Indianapolis, IN under the Section 8 program is 9.7%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Downtown Indianapolis, Indianapolis, IN, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 746 |
Total Units Section 8 | 746 |
% Rentals under Section 8 | 9.7% |
% Occupied Section 8 | 78.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $800 | $1,040 |
| 2 Bedroom | $170 | $1,050 | $1,220 |
| 3 Bedroom | $190 | $1,400 | $1,590 |
| 4 Bedroom | $20 | $1,900 | $1,920 |
Affordability — Downtown Indianapolis, Indianapolis, IN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $149,000 |
| Median Household Income | $43,200 |